In addition to signing a multi-year deal with Pentagon Federal Credit Union, Blend laid off 50 workers in September, or about 9 percent of its workforce.
Category: mortgage
Weak jobs, manufacturing reports provide no relief for mortgage rates
Hurricanes and strikes were expected to dent job creation, and bond market investors are looking ahead to next week’s election, Fed meeting and government bond auctions.
Fannie and Freddie will let more buyers off the hook for an appraisal
Appraisal waiver programs that rely on automated valuation models will be expanded next year to allow participation by homebuyers putting less than 20 percent down.
Mortgage rates back at 7% as bond market investors stage rebellion
“Bond vigilantes” figure “no matter which party wins the White House and the Congress, fiscal policies will bloat the budget deficit and heat up inflation,” Wall Street veteran Ed Yardeni warns.
Profits roll in at Mr. Cooper as it pursues tech-fueled growth
Deal to acquire Flagstar’s mortgage servicing business and correspondent lending platform is projected to grow Mr. Cooper’s servicing portfolio to $1.59 trillion.
Flagstar shedding 1,900 workers, but many could land at Mr. Cooper
A majority of the 1,200 Flagstar employees being let go in $1.4 billion sale of the company’s mortgage servicing business will be offered the opportunity to transfer to Dallas-based Mr. Cooper.
Strong economy may prop up home prices, mortgage rates
Fannie Mae economists say surprising strength of the U.S. economy means home prices are likely to keep rising, and mortgage rates may not come down as quickly as previously expected.
Trump, Harris housing policies emerging from the rhetoric
Housing policy has gotten short shrift in the debates, with a tight focus on immigration and inflation. But the candidates’ platforms — and Project 2025 — provide more details.
LoanSnap’s business dried up. Now regulators are after its licenses
Connecticut has entered into a consent decree revoking the fintech mortgage lender’s license, and LoanSnap has been put on notice by California regulators that they intend to do the same.
Mr. Cooper adds to leadership team with eye on technology
Sridhar Sharma, who’s credited with developing Mr. Cooper’s patented AI, has been promoted to a new role, and three new tech leaders are joining from other companies.